8,005 Shares in Ferrari N.V. $RACE Purchased by Virtu Financial LLC

Virtu Financial LLC purchased a new stake in Ferrari N.V. (NYSE:RACE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,005 shares of the company’s stock, valued at approximately $2,958,000.

Several other large investors have also added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new position in Ferrari during the 4th quarter valued at about $147,000. Mercer Global Advisors Inc. ADV raised its stake in shares of Ferrari by 16.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,034 shares of the company’s stock worth $752,000 after purchasing an additional 290 shares during the last quarter. Beacon Pointe Advisors LLC raised its stake in shares of Ferrari by 3.6% in the fourth quarter. Beacon Pointe Advisors LLC now owns 1,536 shares of the company’s stock worth $568,000 after purchasing an additional 54 shares during the last quarter. Wahed Invest LLC lifted its holdings in shares of Ferrari by 6.8% in the fourth quarter. Wahed Invest LLC now owns 2,384 shares of the company’s stock valued at $892,000 after purchasing an additional 152 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Ferrari by 28.7% in the fourth quarter. NewEdge Advisors LLC now owns 6,299 shares of the company’s stock valued at $2,328,000 after purchasing an additional 1,406 shares in the last quarter.

Ferrari Trading Up 2.4%

NYSE:RACE opened at $362.88 on Friday. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10. The firm has a 50-day moving average price of $347.58 and a two-hundred day moving average price of $353.34. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The firm has a market cap of $84.89 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 3.38 and a beta of 0.93.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group cut their target price on Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. increased their price target on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. Finally, Morgan Stanley upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $388.00 to $438.00 in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $470.70.

Ferrari Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.